Said Sam Bankman-Fried, prompted about whether his lawyers are telling him it's a good idea to be talking and quoted in "Transcript of Sam Bankman-Fried’s Interview at the DealBook Summit/In a discussion with Andrew Ross Sorkin of The New York Times, Sam Bankman-Fried blamed 'huge management failures' and sloppy accounting for the collapse of the FTX cryptocurrency exchange" (NYT).
He says he's not focusing on his own liability: "There’s going to be a time and a place for me to think about myself and my own future. But I don’t think this is it. Right now, look, I've had a bad month. This has not been a fun month for me. But that’s not what matters here...."
He takes risks. And he doesn't focus on the future.
Lots more at the link. I'll just cherry-pick this exchange:
SORKIN: But it seems when you read the stories, it sounds like a bunch of kids who were on Adderall having a sleepover party.
BANKMAN-FRIED: Look, I screwed up. I was C.E.O. I was the C.E.O. of FTX. And I say this again and again that it means I had a responsibility, and I was responsible ultimately for us doing the right things and didn’t. We messed up big.
And, about those drugs:
SORKIN: Can I ask you about the drugs? You have tweeted about it, Caroline has tweeted about it. Others have tweeted about uppers and downers and all sorts of things. There have been pictures taken of something called Emsam, which apparently increases levels of dopamine to the brain. It’s actually for Parkinson’s. Were you taking that? It’s a patch.
The answer is verbose and mostly about alcohol, which wasn't the question:
BANKMAN-FRIED: It’s funny hearing this. I had my first sip of alcohol after my 21st birthday. I think I maybe have half a glass of alcohol a year, roughly speaking. There were no wild parties here. When we had parties were we played board games. Twenty percent of people would have a quarter of a beer each or something like that, and the rest of us would not drink anything.
Finally, he gets to drugs:
I didn’t see any illegal drug use at the office or at these parties.
Important qualifying words: "illegal" and "at the office or at these parties." It doesn't address prescription drugs taken in private. Emsam, the specific drug asked about, is not an illegal drug.
And when I say parties, I mean having people over for dinner, that’s what that meant. I can’t talk about anyone else. What they are prescribed is between them and their doctors or psychiatrist. I can say for me, I have been prescribed various things at various times to help with focus and concentration, and I think they have done that.
That seems to be the answer to Sorkin's "Were you taking [Emsam]?"
I haven’t felt any of the sort of impact that people have been theorizing from it.
What a great drug-user line! I especially like "theorizing."
And it’s not a huge impact in the first place anyway. I think these have totally been on-label use of medication that I think on the margin help me focus a little bit. I wish I had been a lot more focused over the last year.
The overuse of the word "focus" in that interview is telling. Focus focus focus. There were drugs for focus — purportedly used "on-label" — and yet still there wasn't enough focus. But not enough focus on the future. Now, I feel like "theorizing": To become more and more focused is to exclude the wider view — the view of the future.
पोस्ट्स
४६ टिप्पण्या:
Are they still trying to rationalize this cock-sucker?
The guy should be taken out , and shot.
The appropriate words are malfeasance and self-dealing. So none of his investors were members of organized crime with access to what “The Godfsther” movies called “button men”? Lucky him!
He lost some pretty bad people a pretty penny, so have fun out there, fella.
He should have read more before starting that venture.
He comes across as a spoiled brat.
Fascinating: not just the fantasy being spun by this sociopath, but the audience given him by the media.
Memo to media: he’s playing you. And you love it. You’d love interviewing Jeffrey Dahmer and asking him for recipes.
The entire New York Times affair was nauseating. The Times. Andrew Ross Sorkin. The crowd, alternately smiling, nervously laughing, clapping. And that lying, deceiving, little criminal pudge of a 'man', SBF. He cannot come clean, yet he cannot stop hearing himself talk to groups of people who he thinks want to hear what he has to say. Even when he and they know it's entirely bullshit. And do you know what? He's right. They still do want to hear what he has to say. Oh my God. If ever there was a video portraying the drowning of this civilization, this is it. I love the Times putting it's imprimatur on the entire thing. Along with Janice Yellen- a good prop to portray the feckless Incompetent Bureaucrat who keeps getting hired for new positions even as she horribly fails from one to the next.
The entire display is so United States circa the 2020's.
Hi! I'm Sam Bankman-Fried! I've got an excuse for everything!!!
Notice the right arm shaking constantly. What is up with that? Pharmaceutical or organic in origin?
This is the guy whose parents taught him that because "free will does not exist" he has no personal responsibility, and the government has no right to jail criminals who are "not responsible for their actions, since they were foreordained" and now he is working through the lie.
Giving the government of the Bahamas $600 million by hacking the accounts, and paying off any Bahamas investors, so, you know, he doesn't have any neighbors who want him dead, is pretty shrewd.
Look at the crypto execs who have been ending up suddenly found dead in the past week. Criminals like crypto for obvious reasons, and don't like to be made chumps of.
Once the story stops moving people might ask politicians to give his money back.
The fascination with him is deeply troubling. It's ignoring the simple facts on the ground. As CEO, he worked hard to hide and destroy records while comingling funds and doing things with personal money he expressly stated would not be done.
I'm not aware of a more public situation of clear fraud from a single person at anywhere near this scale - maybe Madoff - and the specifics of what the Bahamas did to him (jailed him until he wired them funds) and others indicate his actions are well understood.
Yet he's free and being given air time.
If I was a cynic, I would say this reeks of corruption through and through.
“Now, my dear Miss Summerson, and my dear Mr. Richard," said Mr. Skimpole gaily, innocently, and confidingly as he looked at his drawing with his head on one side, "here you see me utterly incapable of helping myself, and entirely in your hands! I only ask to be free. The butterflies are free. Mankind will surely not deny to Harold Skimpole what it concedes to the butterflies!"
What a Bleak House indeed.
"When you come to think of it, it's the height of childishness in you—I mean me—" said Mr. Jarndyce, "to regard him for a moment as a man. You can't make HIM responsible. The idea of Harold Skimpole with designs or plans, or knowledge of consequences! Ha, ha, ha!"
Our modern Mr. Skimpole.
I've only seen bits of SB-F video, but what I've seen makes me ask what kind of moron would entrust big money to a guy like that?
Nothing I've seen shows him exemplifying competence, maturity, trustworthiness, or any of the things that cause people to place trust in someone. Sure, you can fake those things, and lots of con men have done so, but SB-F doesn't even appear to try to fake those things. He just exudes the aura of a dorm-rat!
“I've had a bad month. This has not been a fun month for me.“
You think?
Future bad months in prison coming up!
SBF is the dumbest crook of all time!
SORKIN: But it seems when you read the stories, it sounds like a bunch of kids who were on Adderall having a sleepover party.
think it Sounds like that.. Because it WAS that.
.
Madoff turned himself in because his scam involved taking $$$ from Russians. Stealing billions from Russkies leaves one vulnerable to revenge. Madoff needed the protection of the US government, even if it meant spending the rest of his life behind bars.
SBF, by contrast, fears no retribution. Meaning he has powerful patrons in the highest levels of American elite who will protect his behind.
This implies some very dark and ugly thoughts about my beloved country.
What Temujin said. Plus 1…
I had to keep track of Dealbook and all those forums back in the day but they were populated with people delivering alpha or at least focused on trying to deliver alpha. Now they’re all about leftie propaganda and virtue signaling…
That Sorkin guy is the ultimate grifter. He was hired at CNBC only because staffers in the Obama White House hated that Joe Kernen went unchecked on Squawk Box. So the White House made phone calls…
Quayle @ 6:23: “…Our modern Mr. Skimpole.” Major props for that reference.
Dickens isa treasury of human types: wonderfully drawn and eternally relevant. Being able to spot a Skimpole or a Heep is a very practical advantage.
Naw dude, not recede, more like pushed into a hole with bars, and not the bars where you order a drink.
Are his parents in the US?
He's pleading that he's incompetent but not corrupt. He could be both.
the whole thing was a set up to flush the democrat party with money.
will this crook forced to give back hi properties?
Into a hole? A black hole... whore? h/t NAACP NYT should revise its style guide to avoid expressing diversitist intent.
Wait… there’s more!!!
Who wouldn’t entrust their money with Pudge Sugarteats?!?!
Do the Democrats not realize how bad this looks for them that this guy is running around free, being interviewed like some celebrity and even participating in panel discussions? Or do they realize but they figure that the midterms are over and the 2024 election is 23 months away? And then Althouse wonders why so many of us regard the Democrats as irredeemably corrupt, and view them the way we’d view a rabid coyote that has wandered into our yard.
“I had a bad month,” he said. He should be having a bad rest of his life.
I guess SBF never saw "Legally Blonde."
Professor Callahan: Would you rather have a client who committed a crime malum in se or malum prohibitum?
Elle: Neither.
Professor Callahan: And why's that?
Elle: I would rather have a client who's innocent.
While I enjoyed the nervous laughter of the FTX investors in the Times’ audience who paid $2500 per ticket to hear such dreck, I am quickly growing bored with this shaky fat fuck and his childish act. We all know that his billion dollar pledge to Biden’s campaign is the only thing keeping him from arrest and prosecution. All three headliners should have been arrested yesterday but I see at least two appeared remotely to avoid that. For the connect-the-dots crowd the FTX-to-DNC + Yellen-to-Zelensky + Zelensky-to-FTX circle of money laundering is a big reason we’re still seeing the “Russia-Ukraine” war show is still going.
The media wants the FTX story to be about drugs, sex, nerdery and youth.
They do not want it to be about FTX stealing money from its customers to donate to Democrat politicians.
Literally this happened. There was not a "run" on "deposits", because FTX is an exchange and not a bank. FTX was stealing its customers' money, handing it Alameda, who was making unsecured personal loans in the hundreds of millions to people at FTX as well as making stupid speculations.
"This is the guy whose parents taught him that because "free will does not exist" he has no personal responsibility, and the government has no right to jail criminals who are "not responsible for their actions, since they were foreordained" and now he is working through the lie."
I doubt young Bankman-Fried lied since I doubt he could tell the truth. Rather, I think he is in the middle of an RPG (role-playing game), creating and telling his narratives. He is not lost at sea because he does not even realize that he is at sea.
He'll never spend a day in jail. We all know why.
Why isn't this guy being arrested? Madoff was arrested fairly quickly and put under house arrest. Of course he's good at Mitt Romney type weasal words. Its like listening to Clinton in the 90s.
As for no one drinking, why be suprised? Wealthy Jews aren't know for being big drinkers or alcholics. IT could even be the same among the wider Jewish Community. Here's something from McCleans Magaizine in 1952:
The statistics, regardless of where or when they are gathered, show the same remarkable fact in the U. S. as in Canada. During World War I the average rate of rejection for alcoholism in the U. S. Army was 3.5 percent; the Jewish “rejectees” had a rate of .5 percent, only one-seventh as great. The same was true in World War II. In the Boston area, during a two-year period, among the men rejected for military service for reasons of chronic alcoholism the Jews shared the bottom position with the Chinese. For every Jewish alcoholic admitted to New York State hospitals during 1929-31 there were fifty-one Irishmen, fifteen Scandinavians, ten Italians, nine Englishmen and seven Germans. In San Francisco in 1944 the rate of arrests for drunkenness per one hundred thousand population was Irish 7,876 and Jews 27.
SBF is much a byproduct of cancel culture as he is unadulterated greed.
"I have a duty to save myself," says J. Bruce Ismay as he jumps into the lifeboat ahead of all those women and children.
Yet more proof that the more we study ethics, the less moral we become. Ethics gives us high-sounding reasons to do what we want to do anyway.
I've only seen bits of SB-F video, but what I've seen makes me ask what kind of moron would entrust big money to a guy like that?
The motto of tech world venture capitalism is "... so crazy it just might work ..."
I don't trust people who say they drank half a glass of alcohol, or that their friend drank a quarter of a beer.
"He'll never spend a day in jail. We all know why."
He may not realize that the purpose of the justice system is to protect the criminals from the public.
Is it too soon to put an "SBF didn't kill himself!" bumper sticker on my truck?
Hes just the front man
https://www.efinancialcareers.com/news/2022/11/ramnik-arora-goldman-sachs-ftx
"If I was a cynic, I would say this reeks of corruption through and through."
In that case, let me do so. This reeks of corruption through and through.
Sam Bankman-Fried claimed he didn’t know how a $16.4 million Bahamas mansion got listed under his parents’ names, insisting that it was meant to house staffers at his now-defunct FTX cryptocurrency exchange.
“I don’t know the details of the house for my parents,” Bankman-Fried told the New York Times’ Andrew Ross Sorkin via Zoom at the newspaper’s DealBook summit event in New York City on Wednesday.
Somehow—WHO KNOWS HOW—SBF’s law professor parents found their names on the deed of a $16.4 million Bahamas vacation mansion. Effective altruism at work.
The more this guy talks, the more gullible those who gave him money as investors or depositors seem to be.
They fell for the latest thing, ESG or whatever, just as they fell for the latest thing back in the 1920s
The fading of the critical sense is a serious menace to the preservation of our civilization. It makes it easy for quacks to fool the people. It is remarkable that the educated strata are more gullible than the less educated. The most enthusiastic supporters of Marxism, Nazism, and Fascism were the intellectuals, not the boors. The intellectuals were never keen enough to see the manifest contradictions of their creeds. It did not in the least impair the popularity of Fascism that Mussolini in the same speech praised the Italians as the representatives of the oldest Western civilization and as the youngest among the civilized nations. No German nationalist minded it when dark-haired Hitler, corpulent Goering, and lame Goebbels were praised as the shining representatives of the tall, slim, fair-haired, heroic Aryan master race. Is it not amazing that many millions of non-Russians are firmly convinced that the Soviet regime is democratic, even more democratic than America?
von Mises, Ludwig (1945). Bureaucracy
My son's job is related to sports sponsorships/branding/fan fulfillment. FTX was one of his biggest clients in 2022 and he made a bucket of money. Since he provided product, he earned that money and he ain't giving it back.
He's also glad he didn't get sucked into buying the so-called "product" produced by FTX.
And his mom is simply grateful that he finally - FINALLY - connects the dots to all of our discussions about ponzi schemes and tulip mania.
He is a crook. But he donated to the Dems, so no prison. Elon has this one right.
This guy will follow the Jon Corzine path from massive theft to free as a bird, perhaps without the politics detour. Although knowing a bit about New Jersey politics, I would not rule out politics, too. Democrats can be forgiving if enough cash is spread around.
Hey c'mon. Take it easy on the kid. It's not like he's Nick Fuentes or something!
LOL, now he says he gave the same amount of Republicans as he did to Democrats, but unfortunately, it's all sort of untraceable...
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